Asbury agrees to buy Jim Koons group for $1.2 billion in ‘transformative' acquisition
Asbury’s agreed-to purchase of Jim Koons Automotive Cos. would be the largest acquisition in the dealership space since 2021.
Volvo Cars cuts jobs and expenses in U.S., Canada to prep for EV era
The restructuring of Volvo’s U.S. and Canada operations is part of an $88 million global initiative to tighten spending, drive efficiencies, and update the work force. It does not affect Volvo’s production network.
Magna sees EV battery enclosures generating $2.5 billion in sales by 2027
Diversified supplier Magna International Inc. said today it expects to generate $2.5 billion in annual revenue from electric vehicle battery enclosures by 2027, up from $100 million in 2022.
Regional used-car dealership group Off Lease Only files for Chapter 11 protection
The company terminated all 545 of its employees ahead of Thursday’s Chapter 11 filing in bankruptcy court in Delaware, according to a court filing.
BMW factory planning time to be slashed
BMW is tapping the virtual tools of Nvidia to speed up the creation of new factory capacity.